New Business Development
New Product Development
Strategy
Channel Management
Technical Research
Interim Management
Mentoring
Business Audit
SBIR Commercialization
Acquisitions
Total Cost of Ownership
Voice of the Customer
Customer Buy Decision
Your level of success in marketing technical products to technical decision-makers significantly depends on your total value proposition. Developing a strategy based on superior value, or performance vs. cost benefit, over the total life of your product or service is commonly referred to as the total Cost of Ownership (CoO). Total CoO considers not only the initial price of your product or service but also includes performance advantages, ease of installation, product reliability, service required, ease of maintenance, etc.
TekMark can develop a total CoO marketing strategy for you based on various evaluation tools such as performance vs. cost matrices, mean-time-to-repair (MTTR), mean-time-between-planned maintenance (MTBPM), mean-time-between-failure (MTBF) among others. This strategy can be extremely effective in differentiating you from your competition, while at the same time, diffusing the lowest-price purchase scenario and improving your margin.
Despite what many people believe, technical decision-makers do not often make purchase decisions solely on who has the lowest price. Many other actual, perceived and intangible attributes influence the evaluation and decision making process. This process establishes the "Customer Buy Decision".
The more you know about this evaluation process the better you can design and position your products, services and marketing message to the specific needs of your marketplace. Knowing your Customer Buy Decision can differentiate what your customers want vs. what they need.
The accuracy and value of marketing information is directly related to the quality and number of customers, potential customers, and other external and internal stakeholders from which you acquire information. To complement our market research efforts TekMark can also; conduct one-on-one interviews, in person or via phone; develop and administer market, new product, customer satisfaction and other surveys; and facilitate focus groups. Many of these methods provide the critical market facing information required to substantiate Voice of the Customer data within a Six Sigma environment.
